Arista Networks, Inc. (NYSE:ANET) Given Average Rating of “Moderate Buy” by Analysts

Arista Networks, Inc. (NYSE:ANET) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $275.59.

A number of analysts have recently commented on the company. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. Piper Sandler boosted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. KeyCorp raised their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th.

Arista Networks Stock Performance

Shares of ANET stock opened at $271.43 on Friday. Arista Networks has a 52 week low of $131.68 and a 52 week high of $307.74. The company’s 50 day moving average price is $281.78 and its two-hundred day moving average price is $241.96. The company has a market capitalization of $84.86 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. Analysts forecast that Arista Networks will post 6.63 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the sale, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60. Following the sale, the chief executive officer now directly owns 82,766 shares in the company, valued at $21,320,521.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 361,036 shares of company stock valued at $102,813,921. 18.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Arista Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. raised its holdings in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the last quarter. Alaska Permanent Fund Corp bought a new position in shares of Arista Networks during the 1st quarter worth approximately $37,000. Riverview Trust Co acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $40,000. Rakuten Securities Inc. bought a new stake in shares of Arista Networks in the 4th quarter valued at $35,000. Finally, Atticus Wealth Management LLC lifted its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after acquiring an additional 145 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.